Hardline approach to pandemic risks damaging global economy, says Kristalina Georgieva
were ordered into lockdown earlier this month after China’s national health commission reported 87 new locally transmitted Covid-19 cases.
The IMF boss also chastised the Chinese authorities for withdrawing financial support to protect workers and businesses too early, saying that the economy continued to need subsidies from the government and for the central bank to keep interest rates low. But Georgieva warned the US that a steep rise in interest rates would hurt many developing countries that were already highly indebted and struggling to cope with the pandemic, forcing them to seek help from the IMF.
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